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that is the deficit problem. without entitlement reform there is no amount of growth that will fix it. melissa: christian, isn't this all noise and nonsense until we fix that problem? >> well, not exactly because, you know, when you have an economy that's suffering from high unemployment andd3 stagnating wages you're not at your full productive capacity. once you reach that level as we've seen in the last few months, once you increase revenues whether it comes from tax increases or improved economic conditions, you drastically and very quickly lower your debt position and your deficit position. that should be the first order of business. that is really what we do first before we figure out what is our true remaining structural long-term deficit. melissa: okay, but doug, you're a numbers guy. let's do thisatively, rather than with our emotions. can the economy quantitatively grow enough to deal with paying for our promises for the entitlements and the system that we have laid out? >> no. at the heart of this are p
that is the deficit problem. without entitlement reform there is no amount of growth that will fix it. melissa: christian, isn't this all noise and nonsense until we fix that problem? >> well, not exactly because, you know, when you have an economy that's suffering from high unemployment andd3 stagnating wages you're not at your full productive capacity. once you reach that level as we've seen in the last few months, once you increase revenues whether it comes from tax increases or...
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May 17, 2013
05/13
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not start paying down our deficit. it is kicking the can down the road and frankly, we are out of road. >> you would think that those people would all be pushing to take credit for our incredible deficit reduction celebrating that there would be press conferences. maybe even a hashtag. you would think it would be front page news on every website. but no, there was nothing. what makes that nothing this week so very ironic is that not only did republicans essentially ignore the cbo report but they chose to spend the time they should have been out celebrating our lowest projected deficits since 2008, trying once again to repeal obama care. they voted for the 37th time to repeal obama care despite the fact that there is good reason to believe that obama care is to credit for much of the remarkable deficit reduction projected this week by the cbo. the deficit reduction republicans used to hold up as their entire reason for being. because the biggest driver of our long-term deficits is rising health care costs and -- get thi
not start paying down our deficit. it is kicking the can down the road and frankly, we are out of road. >> you would think that those people would all be pushing to take credit for our incredible deficit reduction celebrating that there would be press conferences. maybe even a hashtag. you would think it would be front page news on every website. but no, there was nothing. what makes that nothing this week so very ironic is that not only did republicans essentially ignore the cbo report...
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May 15, 2013
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the deficit is getting smaller. a lot smaller. the congressional budget office says it will be $400 million less than the trillion dollars deficit last year. it's down because of higher taxes. a 60 billion check to the government from fannie and freddie. there's a down side for those of us who want the government to get its finances in order, this takes the wind out of the sails of the spending, cutting movement. maybe the deficit news helped stocks, another record close for the dow, 19th this year and same story for the s&p 500, the 14th he record there this year. we're looking at a flat to slightly lower opening today, but that happened yesterday and we still went up 120 by the close. stay tuned. and suddenly, it seems that president obama's second term agenda is unravelling. and the mainstream media have turned on the administration. big government seriously questioned, my, have times have changed. in just ten days. here is the the all-government, all the time president speaking the at ohio state may the 5th. >> unfortunately,
the deficit is getting smaller. a lot smaller. the congressional budget office says it will be $400 million less than the trillion dollars deficit last year. it's down because of higher taxes. a 60 billion check to the government from fannie and freddie. there's a down side for those of us who want the government to get its finances in order, this takes the wind out of the sails of the spending, cutting movement. maybe the deficit news helped stocks, another record close for the dow, 19th this...
we do have a structural budget deficit in the city. we need
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May 17, 2013
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>> it is good for florida not necessarily for the budget deficit. what we have seen increasing number of people are on food stamps. we need to cut back. one committee cut it by 2.5% melissa: people would be proud that florida doubled the people on food stamps that if you qualify you must need the help and aiming at wind into% participation if you qualify that is what it is therefore will be some the 5% of the people right now that qualify actually getting a. why is that wrong? >> programs automatically a sign people up when they sign up for other assistance as someone they think they don't need food stamps but help with the energy bill but then it automatically get on food stamps with energy assistance. the even give them energy assistance to automatically qualify for the food stamps that is the automatic program the house would cut back. melissa: if you say you qualify but don't need it what is the harm? >> having that entitlement you lose that so you face the high tax rate. the more entitlements you have a harder it is to go out into the working w
>> it is good for florida not necessarily for the budget deficit. what we have seen increasing number of people are on food stamps. we need to cut back. one committee cut it by 2.5% melissa: people would be proud that florida doubled the people on food stamps that if you qualify you must need the help and aiming at wind into% participation if you qualify that is what it is therefore will be some the 5% of the people right now that qualify actually getting a. why is that wrong? >>...
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May 15, 2013
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we were hoping to work more on the deficit. do you think this will diverge us from getting things like that done in washington? >> i am not so sure that the market will take that as bad news. the less they do inside the beltway seems to be the better. that is seen as bad news. the more gridlock, the better in many peoples minds. dennis: we have justice with the ap, the irs going after tea party groups, if we have a third-party to come up that is overreaching like that, it gets far worse. >> i will give you one. it is still another one. if i can quickly push back a little on what david said, i agree. i would also say be careful what you wish for. the specter of a three year lame-duck president does not look that great internationally. i do worry about that angle. >> i am not too worried about what is happening internationally. i think they will basically be just slightly by over the next couple years. it is the economy here that i am worried about. with gridlock, look at what we have been able to get done. the president realizes
we were hoping to work more on the deficit. do you think this will diverge us from getting things like that done in washington? >> i am not so sure that the market will take that as bad news. the less they do inside the beltway seems to be the better. that is seen as bad news. the more gridlock, the better in many peoples minds. dennis: we have justice with the ap, the irs going after tea party groups, if we have a third-party to come up that is overreaching like that, it gets far worse....
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May 16, 2013
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deficit is shrinking much faster than expected. the congressional budget office estimates the deficit will fall to about $642 billion by september - $200 billion less than predicted three months ago. until now, the federal budget deficit has topped $1 trillion every year since the financial crisis. some of the money will come from bailed out mortgage giants fannie mae and freddie mac making large dividend payments to the government this year. the economic outlook is less assuring in europe. the region's economy shrank for the sixth consecutive quarter. france fell into a double-dip recession, with president francois hollande expecting lower growth this year. analysts are not expecting any major policy shifts from euro leaders. in germany, chancellor angela merkel faces re-election in september. and the european central bank has already cut rates to a record low. next week, european commissioners will meet in brussels to discuss boosting economic growth. the largest bank in europe is talking about letting 14,000 workers go to cut co
deficit is shrinking much faster than expected. the congressional budget office estimates the deficit will fall to about $642 billion by september - $200 billion less than predicted three months ago. until now, the federal budget deficit has topped $1 trillion every year since the financial crisis. some of the money will come from bailed out mortgage giants fannie mae and freddie mac making large dividend payments to the government this year. the economic outlook is less assuring in europe. the...
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May 16, 2013
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the board of education approved the deficit elimination plan, and really, chris, i want to thank you and other folks who brought attention to this. it was putting a great big light on this problem that, i think, caused the reverse, of course. and the good news is these kids will be able to finish their school year, and i'm just really happy about that. >> what have we learned about michigan governor rick snyder in this, the fact he seemed willing, the state government seemed willing, to let these kids not be in school and not turn over any money and not find some way initially for a bridge loan or something. what does that say to you about the governor? >> first of all, i want to thank them for doing the right thing, even though it took some time. i'm not really anxious to point fingers. i think what it does show is we have huge inequities in this country and in michigan and lots of other places, and we need to correct those inequities. for every buena vista that had to close, there are hundreds of schools that are functioning barely at the sustainable level and getting marginal educ
the board of education approved the deficit elimination plan, and really, chris, i want to thank you and other folks who brought attention to this. it was putting a great big light on this problem that, i think, caused the reverse, of course. and the good news is these kids will be able to finish their school year, and i'm just really happy about that. >> what have we learned about michigan governor rick snyder in this, the fact he seemed willing, the state government seemed willing, to...
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May 19, 2013
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and the amazing shrinking american budget deficit. i'll ask mitt romney's chief economic adviser whether he thinks the problem has gone away. >>> also, as america prepares to draw down from afghanistan, what can it learn from britain's withdrawal 170 years ago? i'll ask theauthor of a great new book. >>> next, a look into the crystal ball of technology with google's executive chairman eric schmit. a sure fire plan to reduce carbon dioxide emissions. how so? stay tuned. >>> first, here is my take. conservatives are, of course, mad at barack obama. we'll talk about the various scandals in a moment, but they're also mad at a country that isn't mad enough at him. this frustration is now taking over main stream and intelligent voices within the conservative movement and about broader issues than benghazi. brett stevens, the columnist for "wall street journal" lementes that president obama is not paying a price for a foreign policy that he, stevens, describes as isolationist. now, isolationism will come as a surprise to the diplomat soldier
and the amazing shrinking american budget deficit. i'll ask mitt romney's chief economic adviser whether he thinks the problem has gone away. >>> also, as america prepares to draw down from afghanistan, what can it learn from britain's withdrawal 170 years ago? i'll ask theauthor of a great new book. >>> next, a look into the crystal ball of technology with google's executive chairman eric schmit. a sure fire plan to reduce carbon dioxide emissions. how so? stay tuned....
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May 14, 2013
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the budget deficit will be smaller, a lot smaller. they predict the federal budget deficit will be $642 billion. that's down more than $200 billion from the estimate in february. so why the change? well, spending cuts are one thing. higher tax revenues in part from a healthier economy are another. more companies are paying back uncle sam for their bailout loans. >> it's not just the government getting into better financial shape but so are the rest of us. new statistics from the federal reserve show that americans are doing a lot less borrowing these days. ha ha hamt p ton pearson has more on what that means. >> reporter: households lightened their deficits by $110 billion. debt payments increased and delinquency rates fell across the board on everything from home mortgages, home equity loans and credit cards. people like bradford elder who has been on a self-prescribed diet. >> as the economy improves people are much more cognizant of the amount of debt they're taking on. what kind of debt is it? risky debt, revolving credit card deb
the budget deficit will be smaller, a lot smaller. they predict the federal budget deficit will be $642 billion. that's down more than $200 billion from the estimate in february. so why the change? well, spending cuts are one thing. higher tax revenues in part from a healthier economy are another. more companies are paying back uncle sam for their bailout loans. >> it's not just the government getting into better financial shape but so are the rest of us. new statistics from the federal...
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May 20, 2013
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four dead at 7/11 store there four more dead as they tried to get into a freeze tore escape this storm deficit all around. reminiscent of joplin, missouri. bark ripped off the trees. trees split in half. its insulation up in the branches. it is twisted metal around telephone poles. at the 7/11 it' as to be a gas pump but it's nothing but electronics and wires hanging out. the pump stilted sideways it gives you chills. is it doesn't matter last when i was on the ground covering deadly tornadoes and last night covering these and now it doesn't matter how many times you see this. it's just absolutely gives you the shivers and to sit here right now. first responders from all over flooding in here. yelling at each other. shep then excuse me for just a moment. live witness from k next thing you know coming across. bricks hear if coming in. it was trying to stuck the storm seller out of the ground unlastled latch the door. caved the door. in once if ended he we of course got out. i car is gone. i can't find it inspects nowhere to be found and there is an sin angel of brandon brought me home. when i g
four dead at 7/11 store there four more dead as they tried to get into a freeze tore escape this storm deficit all around. reminiscent of joplin, missouri. bark ripped off the trees. trees split in half. its insulation up in the branches. it is twisted metal around telephone poles. at the 7/11 it' as to be a gas pump but it's nothing but electronics and wires hanging out. the pump stilted sideways it gives you chills. is it doesn't matter last when i was on the ground covering deadly tornadoes...
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May 16, 2013
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neil: deficits are tumbling the revenues are coming in. >> then the next thing you know the wags, you know --. neil: we don't have to cut. we don't have to cut. >> cbo says problem solved. this is what some blogger on "the washington post" said today believe the cbo forecast i have some swampland in florida. they suggest 40 years no recession or no economic dislocation we will create seven times more jobs in the next decade than we did over the next decade with wage and salary growth two times what has been. >> that $642 billion it is a lot less than it was in well under $1 trillion and we can remember a time when deficits were approaching $100 billion now we celebrate 642 billion but whatever that is. >> of course, $50 billion is a pavement a tax gimmick from fannie mae. where do they get the 60 million? they borrow it. neil: a lot of it is a tax increase. that part is there temporarily because with the fiscal cliff came at the end of the year there was a huge pre-emptive realization and bonuses were paid and 100 billion as one time revenue. neil: so you say with a focus on the lates
neil: deficits are tumbling the revenues are coming in. >> then the next thing you know the wags, you know --. neil: we don't have to cut. we don't have to cut. >> cbo says problem solved. this is what some blogger on "the washington post" said today believe the cbo forecast i have some swampland in florida. they suggest 40 years no recession or no economic dislocation we will create seven times more jobs in the next decade than we did over the next decade with wage and...
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the smallest deficit sense 2008 which is five years ago. the deficit had been topping $1 trillion every year cynic the recession ended four years ago. they credit the economic recovery, new tax rules and spending cuts with shrinking the deficit. we'll be right back. >>> welcome back to "hardball." may seem hard to believe that you're not experiencing deja vu here, but it happened again now, a military serviceman whose job it is to protect against sexual assault has excused himself of sexual assault. latest case involves a ft. hood sergeant. you won't believe this, i couldn't believe it, into prostitution and for sexually assaulting this guy did apparently charged with two others. the army's not releasing his identity as he has not been charged officially, but get a load of his job title, sexual harassment response and coordinator. that's right, the guy you're supposed to go to for help is accused of sexually assaulting someone. this comes just one week after the man in charge of sexual assault from the entire air force was charged with sexu
the smallest deficit sense 2008 which is five years ago. the deficit had been topping $1 trillion every year cynic the recession ended four years ago. they credit the economic recovery, new tax rules and spending cuts with shrinking the deficit. we'll be right back. >>> welcome back to "hardball." may seem hard to believe that you're not experiencing deja vu here, but it happened again now, a military serviceman whose job it is to protect against sexual assault has excused...
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May 14, 2013
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austerity cut the public role, that does nothing except hurt the deficit. if you want to reduce the deficit, the best thing you can do is invest in education. the education of american people brings more money to the treasury than anything you name, whether it's early childhood k-12, higher ed, lifetime learning, and to cut education is to increase the deficit. so thank you for posing that question. >> congresswoman, really great pleasure to have you here. thank you so much. >> thank you very much. my pleasure, good luck to you and congratulations. >> thanks again to democratic house leader nancy pelosi for joining me earlier today. that's all in for this evening the rachel maddow show starts now.
austerity cut the public role, that does nothing except hurt the deficit. if you want to reduce the deficit, the best thing you can do is invest in education. the education of american people brings more money to the treasury than anything you name, whether it's early childhood k-12, higher ed, lifetime learning, and to cut education is to increase the deficit. so thank you for posing that question. >> congresswoman, really great pleasure to have you here. thank you so much. >>...
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May 14, 2013
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he inherited a city with $300,000 budget deficit. the state's appointed emergency financial manager warned that the deficit could $386 million by jewel 1st. >>> in new jersey the role other coaster at seaside heights is being demolished. it was a symbol of the pamage that superstorm sandy inflicted on the east coast. those are your headlines. i'm patti ann browne. back to you. ashley: patti ann, we thank you so much. get back to the markets. call it a case of the tuesdays. the dow less than two hours from extending the win he can street of 18 straight tuesday as the market is on track to finish in record territory yet again. joining me, above pavlick, from banyon partners with his take what he is watching to drive the market higher. bob, thank you so much for joining us. so you say, look there's lots more room to the upside. i don't say that you say a lot of room but there is room to the upside. what is driving the markets right now? we've gone through earnings. the economic date at thaa is so so. by all economic accounts we're drift
he inherited a city with $300,000 budget deficit. the state's appointed emergency financial manager warned that the deficit could $386 million by jewel 1st. >>> in new jersey the role other coaster at seaside heights is being demolished. it was a symbol of the pamage that superstorm sandy inflicted on the east coast. those are your headlines. i'm patti ann browne. back to you. ashley: patti ann, we thank you so much. get back to the markets. call it a case of the tuesdays. the dow less...
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May 15, 2013
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budget deficit? i am serious the deficit dramatically lower. next. we're not in london, are ? apparently my debit card is. what? i know. don't worry, we have cancelled your old card. great. thank you. in addition to us monitoring your account or unusual activity, you could alsoet up free account alerts. okay. [ female announcer ] atells fargo we're working rounthe clock to help protect your money and financial informaon. here your temporary card. welcome back. how was london? [ female announcer ] when people talk, great things happen. ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and withhat: you're history. instead of looking behind... delta is looking beyond. 80housand of us investing billions. in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. >> the federal budget is a visit expected to shrink this fiscal year after four years of deficit of $1 trillion of ex
budget deficit? i am serious the deficit dramatically lower. next. we're not in london, are ? apparently my debit card is. what? i know. don't worry, we have cancelled your old card. great. thank you. in addition to us monitoring your account or unusual activity, you could alsoet up free account alerts. okay. [ female announcer ] atells fargo we're working rounthe clock to help protect your money and financial informaon. here your temporary card. welcome back. how was london? [ female announcer...
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May 15, 2013
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the true issue with deficits. when you pad the course with too much weight it doesn't make the trip as efficiently. and i do understand everybody wants to ring the bell on smaller deficits. i'm in the club as well. we need to be be honest about it. obviously that's the main motivation. but there's another. we cosigned for all the losses. just hope it doesn't mean no reform. we need a free market in housing that isn't the government. nothing talks about free markets better than a really old book. wealth of nations 1776. hey, that was a really good year by the way. adam smith. what is the underlying premise of adam smith we can apply in ample helpings to a variety of issues in the day? that is who should best deal with the procurement? whether it's a natural resource like natural gas or whether the government should decide who gets loans or what what type of loans. no, no, no. it should be free market for free men. and as the wealth of nations pointed out. don't worry about natural gas. the government can't decide w
the true issue with deficits. when you pad the course with too much weight it doesn't make the trip as efficiently. and i do understand everybody wants to ring the bell on smaller deficits. i'm in the club as well. we need to be be honest about it. obviously that's the main motivation. but there's another. we cosigned for all the losses. just hope it doesn't mean no reform. we need a free market in housing that isn't the government. nothing talks about free markets better than a really old...
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May 16, 2013
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well it was a string of republican and democratic decisions to not hit the full number on security deficits. this is outrageous and senator menendez says we know about benghazi? somebody will puke out there outrageous conduct. [laughter] >> no vomit here in washington d.c. tonight studio number four. lou: maybe you are tougher. >> we have been marinating longer but to your point* the president today was so careful with the artfully crafted all of his theaters were artfully crafted and careful not to blame funding for the attackkin benghazi but mentioning funding a rounded to create the inference. boxer was less careful and when you ask about the ira'she ? he did not answer the question so he was very legalistic. lou: this is moving from a crisis of confidence, it seems to me, directly to a constitutional crisis. this president has lost his credibility. it has been shredded. where are we headed? >> but his ability is to get things done and there is no appetite in washington to get anything done with scandal swirling around the president so beleaguered not he is labor it they and lame in the
well it was a string of republican and democratic decisions to not hit the full number on security deficits. this is outrageous and senator menendez says we know about benghazi? somebody will puke out there outrageous conduct. [laughter] >> no vomit here in washington d.c. tonight studio number four. lou: maybe you are tougher. >> we have been marinating longer but to your point* the president today was so careful with the artfully crafted all of his theaters were artfully crafted...
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regards tried to create an image running programs in we're concerned budget deficits by simply slicing public investment and continuing continuously delaying statements about its directions so in reality if if that were extended paid on time whatever money he owes we were still have a big deficit so that's why i insisted that this and you know this isn't just an attempt to remain within the nominal terms of the bailout agreement and not a real improvement and on the other hand all that it all or recent decisions from that part of the greek government such as the decision to lay off tens of thousands of public servants of the that the very big wage or reduction in the private sector that will start tomorrow so there are real aspects of it a brick of the government's economic policy a policy if you're one of the recession the amity demands that greece remains to go to other policies that will simply make even worse the humanitarian disaster we are already facing and which was described in your reports just. despairs growing at america's gone time obey prison where detainees have been on
regards tried to create an image running programs in we're concerned budget deficits by simply slicing public investment and continuing continuously delaying statements about its directions so in reality if if that were extended paid on time whatever money he owes we were still have a big deficit so that's why i insisted that this and you know this isn't just an attempt to remain within the nominal terms of the bailout agreement and not a real improvement and on the other hand all that it all...
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May 13, 2013
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the deficit matters. if you have over 200% debt to gd ratio you have finance it domesticly. if you have foreigners buying your currency it matters. prirnt money like crazy, this can not have a good ending. cyprus when that blew up it was, a big deal. but japan is of course much bigger deal. we've always argue we never had a eurozone crisis. that is good news. bad news we have a global crisis that might focus on the japan or the u.k.. lori: what should that basket of currencies look like for the best investment? >> there is no safe haven as i indicated. you have to spread your eggs. one the cure return sis more than many others do is the euro priest sigh list because everybody else hates it. they're mopping up liquidity where everyone else is printing money. they have a lot of pain. the reason they have pain is they're not print enough money. i'm not saying buy equities but the currency can be stronger. ultimately you have to have a basket. can't put money one egg, be it australian dollar or the looun any or whatever it may be. lori: axel merk. thanks for coming in. melissa:
the deficit matters. if you have over 200% debt to gd ratio you have finance it domesticly. if you have foreigners buying your currency it matters. prirnt money like crazy, this can not have a good ending. cyprus when that blew up it was, a big deal. but japan is of course much bigger deal. we've always argue we never had a eurozone crisis. that is good news. bad news we have a global crisis that might focus on the japan or the u.k.. lori: what should that basket of currencies look like for the...
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May 12, 2013
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it's going to put a strain on europe's economy and their deficits. the deficits and austerity measures put in place to deal with their dent are a source of major controversy there. as the debate rages on, leaders are watching in the u.s. closely. former president bill clinton said there's a right way and a wrong way to do austerity. >> if you don't kick a long-term deficit reduction plan in at the right time and we don't pass a plan in advance, then there's always the chance that the economy will start recovering and interest rates will go through the roof and it will make the susequester look like a sunday afternoon walk in the park. >> so here's the question, will too much government belt tightening threaten the fragile u.s. recovery? and what can the u.s. learn from europe and its crisis? peter is an economist and professor at the university of maryland school of business. richard quest is the host of quest means business on cnn international. thank you for joining me. peter, let me start with you. you say it's too late. austerity measures in euro
it's going to put a strain on europe's economy and their deficits. the deficits and austerity measures put in place to deal with their dent are a source of major controversy there. as the debate rages on, leaders are watching in the u.s. closely. former president bill clinton said there's a right way and a wrong way to do austerity. >> if you don't kick a long-term deficit reduction plan in at the right time and we don't pass a plan in advance, then there's always the chance that the...
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May 15, 2013
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deficit is shrinking more quickly than previously thought. the nonpartisan budget watchdog says revenue growth will out-pace spending over the next two years. the cbo is slashing its deficit forecast for fiscal 2014 to $642 billion. it's the smallest shortfall since 2008. they're citing rising personal income tax revenues and higher dividend payments by the likes of fannie mae and freddie mac. dan, how important is their assessment? >> well, it's very important for treasury yields. in the first part of the year, we had them go above 2% as economic growth looked strong, a bit down, but now we're moving in that direction again. but what may be a limit on them is exactly this -- the treasury isn't going to be issuing as much debt because the budget deficit's falling. the fed in the meantime is still buying a lot of treasuries, so you're starting to run into a demand and supply imbalance, where there's maybe not quite enough debt out there, if you will. we talk about having too much debt. maybe we don't have enough, and that will probably keep a
deficit is shrinking more quickly than previously thought. the nonpartisan budget watchdog says revenue growth will out-pace spending over the next two years. the cbo is slashing its deficit forecast for fiscal 2014 to $642 billion. it's the smallest shortfall since 2008. they're citing rising personal income tax revenues and higher dividend payments by the likes of fannie mae and freddie mac. dan, how important is their assessment? >> well, it's very important for treasury yields. in the...
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May 19, 2013
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always easy when it comes to the military questions i think in particular there are challenges and trust deficits to overcome. but broadly i think the general trust of the development politically is quite positive. >> what are some of the resources in the arctic? >> lots of oil and gas for a start and green land also uranium, gold, pretty much everything you can think of is likely to be in the arctic and because it is under unexplored there is the chance that quite a lot of substances will be discovered but getting that this is very difficult and expensive. there are lots of environmental risks associated with it. so the fact that it's there doesn't necessarily imply that it will be produced. >> with the militarization of the arctic? has that happened? >> welford years ago in the height of the cold war there were probably more than there are now so what you have seen is it is important militarily because it's a good place for the submarines to hide to destroy russia or the united states or london. now that area is over so that kind of military infrastructure is no longer necessary in the arctic b
always easy when it comes to the military questions i think in particular there are challenges and trust deficits to overcome. but broadly i think the general trust of the development politically is quite positive. >> what are some of the resources in the arctic? >> lots of oil and gas for a start and green land also uranium, gold, pretty much everything you can think of is likely to be in the arctic and because it is under unexplored there is the chance that quite a lot of...
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May 15, 2013
05/13
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. >>> america's deficit is dropping faster than expected. >>> plus, o.j. simpson finally takes the stand today in court. >>> and america's navy takes a major step forward, introducing pilotless drones to our mighty aircraft carriers. [ female announcer ] are you sensitive to dairy? then you'll love lactose-free lactaid® it's 100% real milk that's easy to digest so you can fully enjoy the dairy you love. lactaid®. for 25 years, easy to digest. easy to love. [ agent smith ] i've found software that intrigues me. it appears it's an agent of good. ♪ [ agent smith ] ge software connects patients to nurses to the right machines while dramatically reducing waiting time. [ telephone ringing ] now a waiting room is just a room. [ static warbles ] >>> now to some other stories making news this morning. the leaders of the independent panel on the attack in benghazi will publicly testify before congress. thomas pickering and former joint chiefs admiral, mike mullen, will answer questions from republicans who called their findings flawed. pickering says criticism o
. >>> america's deficit is dropping faster than expected. >>> plus, o.j. simpson finally takes the stand today in court. >>> and america's navy takes a major step forward, introducing pilotless drones to our mighty aircraft carriers. [ female announcer ] are you sensitive to dairy? then you'll love lactose-free lactaid® it's 100% real milk that's easy to digest so you can fully enjoy the dairy you love. lactaid®. for 25 years, easy to digest. easy to love. [ agent...
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May 16, 2013
05/13
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CNBC
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the other thing that's happening, six months ago, we were looking at trillion-dollar deficits as far as the eye can see. we're now looking at the cbo revising down deficit estimates very aggressively, the combination of the sequester, the fiscal cliff tax hikes. we're looking at 2% in less than two years. it's one of the reasons why the market is saying, we're now able to wean ourselves off this debt-dependent growth without a recession. that's critical. >> we haven't even mentioned the energy dividend that's awaiting us in the next five years. you know, the fact that the united states is going to be a big energy independent within five years, the fact that we're going to be accounting for 50% of the oil production in the world, how could you discount that? i just don't see it. >> i see everyone nodding. everyone loves the energy story, that much is for sure. whether you're an optimist or pessimist on more on the market is next. two weeks ago, it was an apology video, and this week, after a tumultuous reign, jcpenney is thanking retailers for coming back. but was jcpenney premature i
the other thing that's happening, six months ago, we were looking at trillion-dollar deficits as far as the eye can see. we're now looking at the cbo revising down deficit estimates very aggressively, the combination of the sequester, the fiscal cliff tax hikes. we're looking at 2% in less than two years. it's one of the reasons why the market is saying, we're now able to wean ourselves off this debt-dependent growth without a recession. that's critical. >> we haven't even mentioned the...
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it budget deficits by simply slicing the public investment. continuing continuously delaying that statement about its direction so in reality if if the greek states. were everybody all those with which they have. this issue so that's why they insist that it does i mean listen it is up to them to remain within the norm in the. sense not to really prove that. so all the real aspects of the. government's agreement the issue of policy is the what is your recession the very big question the elephant is a room of this size this. is you know bailout agreement earlier in reality do they have in greece. and during an astonishing six years of recession is also having a harrowing consequence so is science in greece which used to be the lowest rate in euro are rising rapidly mostly among the middle class troublingly people have taking their lives in public hanging or shooting themselves or even self-immolation while politicians and economists shuffle the figures as the people of greece being the price with their livelihoods and their futures and some othe
it budget deficits by simply slicing the public investment. continuing continuously delaying that statement about its direction so in reality if if the greek states. were everybody all those with which they have. this issue so that's why they insist that it does i mean listen it is up to them to remain within the norm in the. sense not to really prove that. so all the real aspects of the. government's agreement the issue of policy is the what is your recession the very big question the elephant...
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May 18, 2013
05/13
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FBC
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instead of what you are concluding your reported it would reduce the deficit by $2.5 trillion? >> i sent six months months on this report. the methodology is about 30 pages long. any person can look at my detail of my analysis. mr. egan has a press release of study he might do. difficult to assess what he is talking about because it's so hidden and minimal. one thing i can say about that is his study basically concludes that an immigrant with an ph.d. and one with a fourth grade education has an equal effect of reducing the deficit in government. that is not only wrong but it's stupid. the reality that a high skilled immigrant, one with a college education pays about $30,000 more in taxes than they take in benefits. a low educated immigrant one with high school degree or less does exactly the opposite. though will take about $30,000 more in benefits than they pay in taxes. the essence of this bill is saying that it's going to take 11.5 million illegal immigrants that on average education of tenth grade and giving them access to 80 different welfare programs, obamacare which is
instead of what you are concluding your reported it would reduce the deficit by $2.5 trillion? >> i sent six months months on this report. the methodology is about 30 pages long. any person can look at my detail of my analysis. mr. egan has a press release of study he might do. difficult to assess what he is talking about because it's so hidden and minimal. one thing i can say about that is his study basically concludes that an immigrant with an ph.d. and one with a fourth grade education...
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May 15, 2013
05/13
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CNBC
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the history of deficit is they tend to understate it. if you forecast it up three, up three, up three, then if you jack your forecast down to minus one then you look like a total goon. what the cbo will say is up three, up three, up three, they tend to understate their revisions, what we saw yesterday was probably about half of the revision that they really would've made if they went all in and did the fully rational forecast. probably throughout the rest of the year, you're going to see bigger reductions in the deficits about three months from now. and that's going to have a good effect on markets, it's going to help the fed have some space to ease up on quantitative easing and so on. >> do you share robert's concerns about the impact of the sequester and second half of the year? >> no, i do not. we're losing about 1.5% of gdp growth. about 1% is the tax hike at the end of the year and half of that is the sequester. so far, we've overpowered that with the wealth effect and the absence of the hippopotamus, and i think that'll continue. >
the history of deficit is they tend to understate it. if you forecast it up three, up three, up three, then if you jack your forecast down to minus one then you look like a total goon. what the cbo will say is up three, up three, up three, they tend to understate their revisions, what we saw yesterday was probably about half of the revision that they really would've made if they went all in and did the fully rational forecast. probably throughout the rest of the year, you're going to see bigger...
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May 18, 2013
05/13
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KPIX
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look at the rain fall deficit since the top of the year, almost 11 inches below normal for san francisco, 7 and a half inches for livermore and same story for san jose. we are all well below normal and rain fall this month typically drier months but look at this, not even a drop of rain so far and san jose only one one hundred dretd of an inch and drier season is just beginning. talk about our 7-dha forecast, any prospects for rain there coming up in a few minutes. >> okay, paul. thank you. >>> the fire danger is sure to follow. over on the cal campus, they're responding to the threat with chain saws. alyssa tells us about the tens of thousands of trees that are going to be cut down. >> about half a mile away from where thousands of people lost their homes in the 1991 fire storm but some of those victims say cutting down these tree social securities is not the solution. >> they lined the berkeley and oakland hills towards grizzly peak but now this forest of yuk lip tus trees is on the chopping block literally. uc berkeley is asking for grants to wipe out 47,000 trees. an environmental pr
look at the rain fall deficit since the top of the year, almost 11 inches below normal for san francisco, 7 and a half inches for livermore and same story for san jose. we are all well below normal and rain fall this month typically drier months but look at this, not even a drop of rain so far and san jose only one one hundred dretd of an inch and drier season is just beginning. talk about our 7-dha forecast, any prospects for rain there coming up in a few minutes. >> okay, paul. thank...
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May 14, 2013
05/13
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CNBC
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deficit. it's now $200 billion smaller than it was estimated just in february, $642 billion is the projection for the current fiscal year. that's 4% of gross domestic product, which is less than half in both dollar terms and percentage of gdp than it was in 2009, the first year of president obama's presidency. this shows that because of better than expected revenue, slower than expected growth in spending, in part because health care costs are slowing, the deficit is going to fall to 2.1% of gdp in 2015. so, we've had a lot of concern that we've discussed for years about the size of the u.s. deficit. it is now coming down pretty rapidly, bill. >> you know, it's symptomatic of our new normal here. we consider $3 gasoline cheap and we think $642 billion deficit is low. >> but as a percentage -- >> you know what i'm saying. >> yes, i do. but the historical standard -- >> john, does that mean that the gdp is expected to shrink -- >> what's that? >> when we talk about these percentages as a functio
deficit. it's now $200 billion smaller than it was estimated just in february, $642 billion is the projection for the current fiscal year. that's 4% of gross domestic product, which is less than half in both dollar terms and percentage of gdp than it was in 2009, the first year of president obama's presidency. this shows that because of better than expected revenue, slower than expected growth in spending, in part because health care costs are slowing, the deficit is going to fall to 2.1% of...
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May 15, 2013
05/13
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the federal deficit is shrinking faster than expected. the congressional budget office estimates the deficit for this fiscal year will fall to $642 billion. 200 billion what they forecast in february. and the cbo says the deficit should keep improving through 2015, when it's projected to drop to $378 billion. in part, they credit tax revenue and better than expected bailout repayments. man: the charcoal went out already? ... forget it. vo: there's more barbeque time in every bag of kingsford original charcoal. kingsford. slow down and grill. all stations come over to mithis is for real this time. step seven point two one two. verify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers. thanks, olivia. thank you. so you can make a payment from your cell to almost anyone's phone or email. (speaking french) so you can express your gratitude... in the moment. chase quic
the federal deficit is shrinking faster than expected. the congressional budget office estimates the deficit for this fiscal year will fall to $642 billion. 200 billion what they forecast in february. and the cbo says the deficit should keep improving through 2015, when it's projected to drop to $378 billion. in part, they credit tax revenue and better than expected bailout repayments. man: the charcoal went out already? ... forget it. vo: there's more barbeque time in every bag of kingsford...
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May 15, 2013
05/13
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MSNBCW
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the smallest deficit sense 2008 which is five years ago. the deficit had been topping $1 trillion every year cynic the recession ended four years ago. they credit the economic recovery, new tax rules and spending cuts with shrinking the deficit. we'll be right back. i'm so glad you called. thank you. we're not in london, are we? no. why? apparently my debit card is. what? i know. don't worry, we have cancelled your old card. great. thank you. in addition to us monitoring your accounts for unusual activity, you could also set up free account alerts. okay. [ female announcer ] at wells fargo we're working around the clock to help protect your money and financial information. here's your temporary card. welcome back. how was london? [ female announcer ] when people talk, great things happen. lovely read susan. may i read something? yes, please. of course. a rich, never bitter taste cup after cup. 340 grams. [ sighs ] [ male announcer ] always rich, never bitter. gevalia. >>> it may seem hard to believe that you're not experiencing day sha 52 h
the smallest deficit sense 2008 which is five years ago. the deficit had been topping $1 trillion every year cynic the recession ended four years ago. they credit the economic recovery, new tax rules and spending cuts with shrinking the deficit. we'll be right back. i'm so glad you called. thank you. we're not in london, are we? no. why? apparently my debit card is. what? i know. don't worry, we have cancelled your old card. great. thank you. in addition to us monitoring your accounts for...
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May 15, 2013
05/13
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CSPAN2
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to go towards deficit reduction. that is remarkable, madam chair, but you been able to craft a bill with that kind of number in there under conditions we are operating in. i understand there are different ideas around this table as to what is the best safety net. i urge my colleagues to recognize that one program does not fit all. the bill before us attempt to provide producers with options to find what works best for them, and that's a step in the right direction. that's something we've never done before, is to give the kind of options that are available in this bill. a new program known as adverse market protections seeks to serve the needs of those who are not protected by the agriculture crop insurance program. it's imperative that the farm safety net provide protection for multiyear price declines, especially for southern crops like rice in. since the protection provided by our crop insurance and we don't work and are not sufficient. also i would like to recognize that the cotton policies contained in the chairs
to go towards deficit reduction. that is remarkable, madam chair, but you been able to craft a bill with that kind of number in there under conditions we are operating in. i understand there are different ideas around this table as to what is the best safety net. i urge my colleagues to recognize that one program does not fit all. the bill before us attempt to provide producers with options to find what works best for them, and that's a step in the right direction. that's something we've never...
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May 13, 2013
05/13
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CSPAN
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my ministers will continue to prioritize measures that reduce the deficit ensuring interest rates are kept low for homeowners and businesses. my government is committed to building our economy where people who work hard are properly rewarded. it will, therefore, to reward the benefit system helping people move from welfare to work. measures will be brought forward to introduce a new program to promote jobs and help small businesses. a bill will be introduced to reduce the regulations on businesses. it will make it easier for them to protect their entrepreneurial property. a draft bill will promote competitive markets and groups. my government will introduce a bill for the audit commission. my government will continue to invest in infrastructure to deliver jobs and growth for the economy. legislation will be introduces to enable the building of the high-speed two railway line providing further opportunity for economic growth in my of britain cities. my government will continue legislation to update energy and infrastructure and to improve the water industry. my government is committed
my ministers will continue to prioritize measures that reduce the deficit ensuring interest rates are kept low for homeowners and businesses. my government is committed to building our economy where people who work hard are properly rewarded. it will, therefore, to reward the benefit system helping people move from welfare to work. measures will be brought forward to introduce a new program to promote jobs and help small businesses. a bill will be introduced to reduce the regulations on...
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my minister's first priority will be to reduce the deficit and restore economic stability at the same time the creed is set to get a five billion pound pay rise this year thirty six point one million pounds from the u.k. taxpayer will go towards the queen and her residence says her royal chefs and footman cost an estimated ten million pounds a year thirty six million is divided into money which runs the royal household of the queen and the duke of edinburgh most of it goes on salaries also on the upkeep of royal palaces such as buckingham palace windsor castle and all royal trouble at home and abroad the british monarchy has become synonymous with the image of britain because it is the world's most high profile montacute the queen at the age of seven and a consul the duke of edinburgh at ninety one are remarkable examples of public service and of national unity but the cost to the public purse rises steadily as austerity sets in the five million pound increase in the queen's expenses from the states represents a fifteen percent rise in vital services are being lost while the queen get
my minister's first priority will be to reduce the deficit and restore economic stability at the same time the creed is set to get a five billion pound pay rise this year thirty six point one million pounds from the u.k. taxpayer will go towards the queen and her residence says her royal chefs and footman cost an estimated ten million pounds a year thirty six million is divided into money which runs the royal household of the queen and the duke of edinburgh most of it goes on salaries also on...
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May 19, 2013
05/13
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CSPAN2
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i'm ad good -- i'm a good liberal democrat, except on the deficit, i'm not good on the stand point of being a deficit hawk, but we met, and we have great hopes of maybe changing or at least symbolizing the possibility of changing the toxic atmosphere in washington and actually prove you can disagree and still find commonground and common solutions, so elijah and darrell, thank you for honoring me. finally, i'd like to thank maddie, elenor, and victoria. [applause] michael, my partner, and these are all the ultimate crisis managers, far better than the person who wrote this book because they are managing me, and i'm the ultimate crisis. [laughter] i have two sons here in the room who i'm extremely proud of, josh davis and jeremy davis, would you raise? [applause] i've got an older daughter who i should say is my younger sister because she's so beautiful and i'm so proud of her, and my son who was wise enough to marry my daughter, marlo and david, where are you? [applause] a very easy teenage female to raise. the most perfect. [laughter] at one point, my older son, seth davis, i'm known
i'm ad good -- i'm a good liberal democrat, except on the deficit, i'm not good on the stand point of being a deficit hawk, but we met, and we have great hopes of maybe changing or at least symbolizing the possibility of changing the toxic atmosphere in washington and actually prove you can disagree and still find commonground and common solutions, so elijah and darrell, thank you for honoring me. finally, i'd like to thank maddie, elenor, and victoria. [applause] michael, my partner, and these...